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Side-by-side financial comparison of DYNAVAX TECHNOLOGIES CORP (DVAX) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
SMITH & WESSON BRANDS, INC. is the larger business by last-quarter revenue ($124.7M vs $94.9M, roughly 1.3× DYNAVAX TECHNOLOGIES CORP). DYNAVAX TECHNOLOGIES CORP runs the higher net margin — 28.4% vs 1.5%, a 26.8% gap on every dollar of revenue. On growth, DYNAVAX TECHNOLOGIES CORP posted the faster year-over-year revenue change (17.7% vs -3.9%). DYNAVAX TECHNOLOGIES CORP produced more free cash flow last quarter ($32.6M vs $16.3M). Over the past eight quarters, DYNAVAX TECHNOLOGIES CORP's revenue compounded faster (30.6% CAGR vs -4.8%).
Dynavax Technologies Corp is a commercial-stage biopharmaceutical company specializing in the research, development, and production of innovative vaccines and immunotherapies for infectious diseases. Its lead approved product is Heplisav-B, an adult hepatitis B vaccine, with core markets in North America and Europe, alongside a pipeline of candidates addressing unmet public health needs.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
DVAX vs SWBI — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $94.9M | $124.7M |
| Net Profit | $26.9M | $1.9M |
| Gross Margin | — | 24.3% |
| Operating Margin | 22.4% | 3.3% |
| Net Margin | 28.4% | 1.5% |
| Revenue YoY | 17.7% | -3.9% |
| Net Profit YoY | 53.0% | -53.6% |
| EPS (diluted) | $0.21 | $0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $124.7M | ||
| Q3 25 | $94.9M | $85.1M | ||
| Q2 25 | $95.4M | $140.8M | ||
| Q1 25 | $68.2M | $115.9M | ||
| Q4 24 | $72.0M | $129.7M | ||
| Q3 24 | $80.6M | $88.3M | ||
| Q2 24 | $73.8M | $159.1M | ||
| Q1 24 | $50.8M | $137.5M |
| Q4 25 | — | $1.9M | ||
| Q3 25 | $26.9M | $-3.4M | ||
| Q2 25 | $18.7M | $8.6M | ||
| Q1 25 | $-96.1M | $2.1M | ||
| Q4 24 | $7.0M | $4.5M | ||
| Q3 24 | $17.6M | $-1.9M | ||
| Q2 24 | $11.4M | $27.9M | ||
| Q1 24 | $-8.7M | $7.9M |
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 25.9% | ||
| Q2 25 | — | 28.8% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 26.6% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | — | 35.5% | ||
| Q1 24 | — | 28.7% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | 22.4% | -3.5% | ||
| Q2 25 | 15.1% | 9.3% | ||
| Q1 25 | -34.7% | 4.1% | ||
| Q4 24 | -2.3% | 5.8% | ||
| Q3 24 | 12.5% | -1.7% | ||
| Q2 24 | 7.0% | 17.4% | ||
| Q1 24 | -35.0% | 8.2% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | 28.4% | -4.0% | ||
| Q2 25 | 19.6% | 6.1% | ||
| Q1 25 | -141.0% | 1.8% | ||
| Q4 24 | 9.8% | 3.5% | ||
| Q3 24 | 21.8% | -2.1% | ||
| Q2 24 | 15.4% | 17.5% | ||
| Q1 24 | -17.2% | 5.7% |
| Q4 25 | — | $0.04 | ||
| Q3 25 | $0.21 | $-0.08 | ||
| Q2 25 | $0.14 | $0.19 | ||
| Q1 25 | $-0.77 | $0.05 | ||
| Q4 24 | $0.07 | $0.10 | ||
| Q3 24 | $0.12 | $-0.04 | ||
| Q2 24 | $0.08 | $0.60 | ||
| Q1 24 | $-0.07 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $160.2M | $22.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $534.1M | $363.2M |
| Total Assets | $946.5M | $548.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $22.4M | ||
| Q3 25 | $160.2M | $18.0M | ||
| Q2 25 | $99.1M | $25.2M | ||
| Q1 25 | $51.7M | $26.7M | ||
| Q4 24 | $95.9M | $39.1M | ||
| Q3 24 | $119.3M | $35.5M | ||
| Q2 24 | $112.5M | $60.8M | ||
| Q1 24 | $132.0M | $47.4M |
| Q4 25 | — | $363.2M | ||
| Q3 25 | $534.1M | $364.4M | ||
| Q2 25 | $494.2M | $372.5M | ||
| Q1 25 | $530.9M | $366.9M | ||
| Q4 24 | $596.8M | $371.5M | ||
| Q3 24 | $681.4M | $380.0M | ||
| Q2 24 | $642.8M | $399.9M | ||
| Q1 24 | $618.5M | $376.4M |
| Q4 25 | — | $548.6M | ||
| Q3 25 | $946.5M | $554.6M | ||
| Q2 25 | $918.4M | $559.6M | ||
| Q1 25 | $945.9M | $578.9M | ||
| Q4 24 | $986.3M | $587.4M | ||
| Q3 24 | $1.1B | $571.3M | ||
| Q2 24 | $1.0B | $577.4M | ||
| Q1 24 | $986.6M | $570.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $33.8M | $27.3M |
| Free Cash FlowOCF − Capex | $32.6M | $16.3M |
| FCF MarginFCF / Revenue | 34.4% | 13.1% |
| Capex IntensityCapex / Revenue | 1.3% | 8.8% |
| Cash ConversionOCF / Net Profit | 1.26× | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $80.5M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $27.3M | ||
| Q3 25 | $33.8M | $-8.1M | ||
| Q2 25 | $23.4M | $40.8M | ||
| Q1 25 | $-19.6M | $-9.8M | ||
| Q4 24 | $53.0M | $-7.4M | ||
| Q3 24 | $19.5M | $-30.8M | ||
| Q2 24 | $10.7M | $43.7M | ||
| Q1 24 | $-16.7M | $25.2M |
| Q4 25 | — | $16.3M | ||
| Q3 25 | $32.6M | $-12.4M | ||
| Q2 25 | $22.0M | $33.5M | ||
| Q1 25 | $-23.6M | $-16.1M | ||
| Q4 24 | $49.5M | $-10.7M | ||
| Q3 24 | $18.1M | $-35.5M | ||
| Q2 24 | $9.9M | $38.2M | ||
| Q1 24 | $-17.4M | $7.0M |
| Q4 25 | — | 13.1% | ||
| Q3 25 | 34.4% | -14.6% | ||
| Q2 25 | 23.0% | 23.8% | ||
| Q1 25 | -34.6% | -13.9% | ||
| Q4 24 | 68.8% | -8.3% | ||
| Q3 24 | 22.5% | -40.2% | ||
| Q2 24 | 13.5% | 24.0% | ||
| Q1 24 | -34.3% | 5.1% |
| Q4 25 | — | 8.8% | ||
| Q3 25 | 1.3% | 5.0% | ||
| Q2 25 | 1.5% | 5.2% | ||
| Q1 25 | 5.8% | 5.4% | ||
| Q4 24 | 4.8% | 2.5% | ||
| Q3 24 | 1.7% | 5.3% | ||
| Q2 24 | 1.1% | 3.5% | ||
| Q1 24 | 1.5% | 13.2% |
| Q4 25 | — | 14.22× | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 1.25× | 4.73× | ||
| Q1 25 | — | -4.68× | ||
| Q4 24 | 7.52× | -1.63× | ||
| Q3 24 | 1.11× | — | ||
| Q2 24 | 0.94× | 1.57× | ||
| Q1 24 | — | 3.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DVAX
| HEPLISAVB | $90.0M | 95% |
| US Department Of Defense | $4.7M | 5% |
SWBI
Segment breakdown not available.
